Investment agents

Portfolio Service Investment Agent" module or "Portfolio Service Rebalancing" module

Investment agents record all central settings for the allocation model and are stored centrally in the system under a corresponding name. A unique investment agent is assigned to each portfolio, or none if it is excluded from regular rebalancing. Even if you can assign a maximum of one matching system to each portfolio, you can still configure several different systems.

In addition to the standard investment agent (type "Allocation formula"), there are the types "Model portfolio", where the target portfolio is defined by the holdings and liquidity of a model portfolio, and "Basic configuration", where only the allocation parameters that have nothing to do with the definition of a target portfolio are included. For details, read the section Configure investment agents.

An investment agent of the "allocation formula" type is given by

• Name of the investment agent
• Allocation formula
• Allocation parameters
• Rounding scheme
  The rounding scheme for unit orders rounds the number of securities (column "Target position" in the portfolio rebalancing position overview).
  The rounding scheme for amount orders rounds the investment totals in the same way.
• Tolerance value
  The tolerance value is the difference threshold between the target and actual weight, below which no adjustment is made.
• Next rebalancing date
  The determination of the target weights is backdated to the last scheduled rebalancing date in order to ensure uniform treatment regardless of the time of the rebalancing process. In this case, the target weights are multiplied by the performance of the value since the target date.
• Slippage
  Percentage by which the available security prices are depreciated depending on the trading direction in order to anticipate deviations in trading prices while preserving liquidity
• Expenses
  Percentage rate for an estimate of the transfer fees.
• User field category
  To make it easier to record the user-defined fields that are relevant for the allocation model, these can be grouped together in a field category.
• Remarks
  Enter (purely informative) notes on the investment agent in the "Remarks" field.

Investment agents are visible to all users in the Infront Portfolio Manager. You need the system right "Create, change and delete investment agents" to design investment agents, i.e. to create new investment agents, delete them or change allocation formulas. Only the "Configure investment agents" system right is required to adjust module compositions, position weights, allocation formula parameters and other allocation settings.

To place a portfolio under an investment agent and use its configuration dialog, you need the object right "Edit master data of a securities account object".